Meta launches cloud business to sell AI computing capacity
Meta Platforms has established a cloud business to sell spare AI computing capacity.
The business will offer developers access to Meta’s AI models or let clients purchase raw computing power.
Meta reported first-quarter revenue of $56.31 billion, with $55.02 billion from advertising, and an operating margin of 41%.
Meta shares were recently trading at $582.90, giving the company a market capitalization of nearly $1.49 trillion.